A Chinese open-source model just triggered another AI selloff. The panic says more about US spending than about Kimi.

A new Chinese AI model has rattled global markets, sending tech and chip stocks sharply lower. Moonshot’s Kimi K3 surprised investors and helped fuel a broad selloff, Bloomberg reports. Traders quickly labelled it a “Kimi moment”, echoing the DeepSeek shock of early 2025. The comparison is doing a lot of work, and not all of it […]
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